Asset protection strategies

Home » Accounting » Asset Protection Strategies

Setting up an asset protection trust business structure can help to protect your assets or limit your liability – regardless of how big or small your business is.

Many people incorrectly believe that asset protection trusts are just for large enterprises, big business owners and wealthy people, but their benefits can also be utilised by almost anyone and any size of business, as everyone needs to ensure their assets are adequately protected.

Greenhalgh Pickard’s business accountants in Sunshine Coast and Airlie Beach take pride in keeping up-to-date with the latest changes in the ever-changing trust laws to ensure the advice you receive is always current. In combination with the in-house experience in insolvency law, the team’s ability to tailor superior asset protection strategies is unsurpassed – regardless of whether you have assets that are low in value or you need more intricate trust protection solutions for larger asset bases.

Andrew Patrick, John Greenhalgh, and Bryan Pickard are Airlie Beach and Sunshine Coast accountants and solicitors experienced in the field of asset protection. Andrew, John, and Bryan each have a wealth of experience specialising in various accounting and legal areas which ensures a well-rounded approach to your asset protection needs in which all angles are considered to provide the best asset protection package tailored to your needs.

Setting up a legal trust

If you operate your business as a trust, the trustee is legally responsible for its operations. Because the trustee can be a company, this can assist in providing personal asset protection.

Setting up a trust requires a formal trust deed that outlines how the trust operates and administrative work that must be undertaken each year.

Another benefit of trusts, if set up and managed correctly, is they can reduce tax rates through the ability to distribute income to beneficiaries on a much lower, individual tax rate.

If you need advice in the area of setting up a legal trust, including advantages and disadvantages compared to other business structures, call (07) 5444 1022 today.

The Legal & Accounting Services Firm

Greenhalgh Pickard Solicitors and Accountants is an innovative Queensland accounting firm and law firm, with clients predominantly living and working on the Sunshine Coast and on the Whitsunday Coast but with many clients also located throughout Queensland, interstate and even overseas.

With offices in Caloundra, Kawana, Coolum Beach and Airlie Beach, Greenhalgh Pickard takes pride in being trusted legal guides and financial business accountant advisers to clients everywhere.

Recent News

Here are some thoughts from us

Best ways to budget for the year ahead

Start the new year on the right track and plan your finances With less than 2 months left until the start of a fresh new year (where has this year gone!!), we’ve been working on some hot tips to help you budget for 2021. We know that many things are out of our control...

read more

The impact of COVID19 on Australian businesses

Still wondering about the actual impacts of COVID19 on Australian businesses? Interested to see some recent statistics and data around JobKeeper? Keen to compare your own business actions to that of the rest of Australia? If so, then this article is for you. The ABS...

read more
HomeBuilder Grant – challenges and what to look out for

HomeBuilder Grant – challenges and what to look out for

When the news of the HomeBuilder Grant was first announced back in June this year, many aspiring home owners felt closer to their great Australian dream. However, as more and more details of the HomeBuilder Grant were released, it became apparent that applying for and...

read more

Contact Your Nearest Office

If you are interested in meeting with an accountant or lawyer regarding your business or commercial interests, please fill out the form to book an appointment or call (07) 5444 1022